Topic: Bancor Network ICO – Controversial One Hour Uncapped (Read 990 times)
IF THE CAP IS A SECRET YOU CAN BE SURE IT IS SO LARGE THEY ARE EMBARRASSED ...GREEDY DEVS!
There will be controversy however you put it if you're talking about ICOs. Many thought 2016 was the year of ICOs but already June and we're looking at probably more than last year especially thanks to ETH. Bancor might start a trend.
I think most people were just upset that they didn't get into BAT (because the whales bought everything in seconds), not that it was asking for too much funding. I think Bancor is going to be a massive/landmark ICO that's going to make just as many (if not more) headlines, for better or worse. A lot of the projections on WINGS are ridiculously high.
BAT got $35 million but alienated potential users and developers who will no longer use the Brave browser as they were shut out of the ICO. Greedy people giving favour to private institutions, just like corrupt share issuance IPOs who give favour to banks and hedge funds and then sell on individual investors in the stock market.
Bancor is 50% uncapped 1 hour, at least this involves smaller investors and the community. I wish them well.
Bancor is 50% uncapped 1 hour, at least this involves smaller investors and the community. I wish them well.
The main aim and idea of ICO is deviating so much from its origin. Companies started to claim interesting so called participatioc rules. Look at that Bancor, what is that %50 limitation garbage?
It seems like a good structure actually. If there's a frenzy, then instead of some speculators capturing the value, like happened with BAT, it is the team that captures this value. In my opinion, it is better for the team to capture this value than some speculators. Think of what happened with BAT - they raised $35 million, and literally the next moment they are valued at $100 million. The gap was the money made by the speculators in that short timespan. Don't you think it's better for this gap to just go to the team? We can't control the market frenzy around ICOs anyway.
I can see why they want to do an uncapped first hour. If you think about it BAT lost out on the possibilities of their crowdfund, MGO had the largest crowdfund because they used up their full 30 days. BAT could have easily surpassed that but now that will never be seen. I do think it benefits both the investor (has time to get in other than two blocks) and the dev team (obvious reasons)
I was reading a book last night that reminded me of this ICO.
It's called "Den of Thieves" and the protagonists were almost all J...
Just like the team behind this is all "Chosen."
Beware.
It's called "Den of Thieves" and the protagonists were almost all J...
Just like the team behind this is all "Chosen."
Beware.
These days people will complain no matter the structure of ICOs. If its uncapped they complain, if the cap is too high they complain, if its too low they complain. I don't think ICOs can avoid criticism as there are pros and cons to it. The uncapped hour means everyone has a real chance to get in and it also disincentivizes people to invest for a quick flip rather than because they actually believe in the project.
I would definitely agree with that assessment. I agree also with that, except for the case that they only sell 50 % of the tokens in the crowdsale...that sucks...
These days people will complain no matter the structure of ICOs. If its uncapped they complain, if the cap is too high they complain, if its too low they complain. I don't think ICOs can avoid criticism as there are pros and cons to it. The uncapped hour means everyone has a real chance to get in and it also disincentivizes people to invest for a quick flip rather than because they actually believe in the project.
I would definitely agree with that assessment. I agree also with that, except for the case that they only sell 50 % of the tokens in the crowdsale...that sucks...
These days people will complain no matter the structure of ICOs. If its uncapped they complain, if the cap is too high they complain, if its too low they complain. I don't think ICOs can avoid criticism as there are pros and cons to it. The uncapped hour means everyone has a real chance to get in and it also disincentivizes people to invest for a quick flip rather than because they actually believe in the project.
I would definitely agree with that assessment.
These days people will complain no matter the structure of ICOs. If its uncapped they complain, if the cap is too high they complain, if its too low they complain. I don't think ICOs can avoid criticism as there are pros and cons to it. The uncapped hour means everyone has a real chance to get in and it also disincentivizes people to invest for a quick flip rather than because they actually believe in the project.
Bancor Network set their terms for their Initial Coin Offering on June 5, just a week before the ICO was to start. The structure of the ICO shocked many and their slack channel was going crazy after the announcement.
Full Article (links to Bancor site, announcement and whitepaper included}:
https://urbancrypto.com/bancor-network-ico-controversial-one-hour-uncapped/
Full Article (links to Bancor site, announcement and whitepaper included}:
https://urbancrypto.com/bancor-network-ico-controversial-one-hour-uncapped/
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